Brady named new state banking commissioner

RIDGELAND — Gov. Haley Barbour has appointed Theresa Brady of Ridgeland as commissioner of the Department of Banking and Consumer Finance. Brady begins the new position effective immediately.

Brady replaces John Allison, who retired in September after almost 40 years with the department.

The Department of Banking and Consumer Finance executes laws related to banking, credit unions, motor vehicle sales, mortgage brokers and other financial businesses, and ensures compliance with statutes and regulations.

Brady’s appointment must be confirmed by the Senate.

Brady, a native of Columbus, joined the Mississippi Department of Banking and Consumer Finance in 1981 as a bank examiner. She has served as deputy commissioner since July 1, 2000. Prior to becoming deputy commissioner, she was the director of the Department’s Consumer Finance Division where she was responsible for overseeing the examination of and enforcement actions against a number of consumer industries.

Prior to returning to the department in 1998 as director of the Consumer Finance Division, Brady served as the bond director for the State Treasury Department and as an assistant city attorney for the City of Jackson.

Brady is a current member and a past president of the National Association of Consumer Credit Administrators. She previously served as first vice president and as secretary-treasurer. Brady is also a member of the American Association of Residential Mortgage Regulators and the Mississippi Bar Association. Brady has attended courses of instructions and conferences presented by various groups such as CSBS, NACCA, AARMR and MTRA as well as courses offered by related industries and associations.

Brady received a bachelor of science degree in banking and finance from Mississippi State University and a law degree from Mississippi College School of Law.